Our tenant Orange & Rockland has announed they will be partnering with Tesla Inc. which is one of the leading developers in energy storage technology.
O&R is partnering with Tesla Inc. for a three-year project in order to explore innovative and new business models on battery use, storage, and value. The new model to be explored involves how potential users would be able to participate in multiple markets, thus increasing battery storage value.
President and CEO of O&R, Robert Sanchez notes, “The success of this innovative approach to batteries on the distribution grid will accelerate battery storage deployment in New York State. …That can mean substantial benefits to O&R customers through lower energy costs, deferred capital construction, enhanced operational efficiency and increased service reliability.” The New York State Public Service Commission (NYSPSC) has granted O&R the approval. In addition, this proposal has been titled as a “Reforming the Energy Vision (REV) demonstration project” and is designed in accordance with building a cleaner, more afforable, and more resilient energy system for New Yorkers. O&R notes if this project is successful it will “help accelerate battery storage deployment” across the state.
As noted in O&R’s press release, “REV aims to help consumers make more informed energy choices, develop new energy products and services, and protect the environment while creating new jobs and economic opportunity throughout the state.”
For even more information, please visit the Orange & Rockland website.